The first successful applicants for Maltese citizenship under the investment scheme are due to take their oath of allegiance and receive their passports.

The announcement was made yesterday by Chetcuti Cauchi Advocates, which has been receiving applications since the Individual Investor Programme (IIP) was rolled out last March.

The applicants have complied with all legal commitments and settled their financial contribution in full, the firm said.

The IIP allows non-EU nationals to acquire Maltese citizenship through a contribution of some €1.15 million in cash, bonds, investments and real estate, with an obligatory residency clause of one year. Applicants can also buy citizenship for their dependants at a fee of €25,000.

Though no official announcement has been made so far by the government, Identity Malta, which manages the programme, confirmed that a number of applications were close to completing the legal requirements to obtain naturalisation.

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